Britain must punch its weight within Europe November 20, 2011 THE political tensions and divided philosophies across Europe have once again returned to the spotlight, following David Cameron’s visit to Berlin last Friday. Strong language has been used on both sides of this debate, but understandably so, given the high stakes. Volker Kauder, of the Christian Democratic Union, made the provocative claim that “suddenly Europe [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 17, 2011 FINANCIAL TIMES AUCTION OF ICELAND FOODS BESET BY DELAYS The auction of Iceland Foods, the frozen food retailer, is facing unexpected delays, with second-round bids now not expected to be lodged until the new year. Work on second-round bids for Iceland Foods – put on the block in May by its majority Icelandic owners with [...]
EBay to open a pop-up shop for Christmas November 17, 2011 ONLINE retailer eBay is to open a Christmas “pop-up” store in London’s busiest shopping district. The store, located on Dean Street – a stone’s throw away from Oxford Street – will not directly sell anything but will feature display models with codes customers can scan with their smartphone if they want to make a purchase. [...]
FTSE falls as debt turmoil intensifies November 17, 2011 BRITAIN’S top share index retreated yesterday, with nervous investors ditching riskier assets such as banks and retailers, as corporates showed signs of stress in the face of the intensifying debt contagion in Europe. London’s blue chip index shed 85.88 points, or 1.6 per cent to 5,423.14, with the FTSE volatility index, up 10.2 per cent [...]
FTSE hit by soaring bank yields November 17, 2011 The FTSE 100 fell in early trading today as yields on a Spanish bond auction soared to almost seven per cent – a level considered unsustainable by economists. A warning from ratings agency Fitch that the outlook for US banks could deteriorate if the Eurozone sovereign debt crisis is not resolved also took its toll. [...]
Report: London’s shops are the best in Europe November 16, 2011 SHOPS in the capital are the best in Europe, according to a continent-wide study of retail destinations by the Economist Intelligence Unit (EIU) and Global Blue, published yesterday. Out of a possible score of 100, London came in at 80.6 in the shopping index, with Paris second at 74.7 and Madrid third with 69.3. Thirty-three [...]
The Vickers Report got the causes of the crisis wrong: Its solutions are wrong too November 16, 2011 THE Independent Commission on Banking (ICB) misdiagnosed the causes of the banking crisis, and its prescriptions are therefore equally wrong. That is the blunt message of a report and briefing paper that Miles Saltiel and I are publishing today with the Adam Smith Institute. And yet – there is some merit in the idea of [...]
British Land signs first tenant for Cheesegrater as profits increase November 15, 2011 PROPERTY developer British Land has formally signed a pre-let agreement with insurance broker Aon to lease a third of its Leadenhall building, nicknamed the Cheesegrater, in the City. Aon will take 191,000 square feet over 10 floors of the 47-floor skyscraper – due to be completed mid-2014 – paying on average £56.60 per square foot [...]
MADE IN CHELSEA DIAMOND HEIR DIGS DEEP FOR HIS NEXT VENTURE November 15, 2011 HIS FAMILY made their fortune digging for diamonds in the Congo and Sierra Leone, but Made in Chelsea stalwart Francis Boulle is interested in mines of a different kind. Fundmine, to be precise, an online investment platform that allows entrepreneurs to sell their company visions to private investors that has to date attracted £8.7m of [...]
FTSE falls as Eurozone fear factor hits banks November 15, 2011 The FTSE edged down this morning, mirroring weaknesses in Asia, as rises in bond yields in Spain and Italy heaped more pressure on markets. Italy sold three billion euros of five-year bonds at 6.29 per cent yesterday – a euro-era record. The country’s 10-year bond yields rose to 6.76 per cent, also pushing Spanish 10-year [...]